Page 47 - GEORptOct20

importance” to Georgia, but the Georgian government terminated the ADC contract to deliver it early this year and would not be giving the consortium another chance to build the flagship infrastructure, Georgian economy and sustainable development minister Natia Turnava said in mid-May.
The consortium and Meijer are seeking restoration of their allegedly violated rights in the $2.5bn project. The amount of their claims exceeds $1bn and consists of the losses of the consortium and Meijer.
ADC was founded by Georgian TBC Holding, the owner of the largest Georgian bank by assets, TBC Bank, and US-based Conti International, a 110-year-old company that has previously conducted major large infrastructural projects in the US. Conti, which previously held a 4% stake in the consortium, left the consortium in 2019.
Meijer, is not mentioned by ADC’s website among the shareholders. But he holds a stake in TBC Holding and is actually one of the founding members of the holding, besides Georgian businessmen Mamuka Khazaradze and Badri Japaridze.
Amsterdam resident Bob Meijer, 74, known for KattenKabinet—an art museum in Amsterdam devoted to works depicting cats—set himself up as a venture capitalist in the 1980s, a trend that spilled over from the US in which entrepreneurs restart or buy businesses.
In Georgia, Meijer opened with local partners Babylon stores, relaunched Borjomi spring water, reopened winery Mukhrani, created tea brand Gurieli and engaged in real estate business. Meijer was also involved in the establishment of TBC Bank, in which he still has a small interest.
Founded in 2014, ADC was a joint venture of Conti International and TBC Holding, then led by Khazaradze. It won the state contract to build and operate the deep sea port in Anaklia 2016.
In May, ADC invited the Georgian government to reconsider its termination of the public-private partnership (PPP) contract for the construction of the port, arguing that the delivery of the project would serve as a driver for economic recovery in the wake of the coronavirus (COVID-19) crisis.
9.1.5 ​Property sector news
Abandoned rural homes now instant sellers in Georgia as city dwellers unsettled by coronavirus turn to remote working
Abandoned rural homes have reportedly become an instant seller in Georgia as the coronavirus (COVID-19) pandemic has lifted demand for out-of-town retreats.
Lekso Charkviani is said to be a man on a mission to revive forsaken villages. Moved by the plight of his own village, whose population has shrunk to a few families, Charkviani, according to a Thomson Reuters Foundation by phone.report, roams mountain roads in the former Soviet republic searching for deserted houses with character and a bit of land—and finds new owners for them.
“This is what I love to do when I have time,” the 45-year-old engineer, who has sold more than 70 properties in the Racha-Lechkhumi region in the last two years via his Facebook page “The Lost Eden”, was quoted as saying. Charkviani, who says he does not make any money from the sales, added: “I can’t stop—like a man who loves fishing and hunting.”
The reality of the coronavirus has boosted interest in rural and suburban living around the globe. People pursue larger homes suitable for remote working in cheaper, less crowded locations. There, they feel less at risk of infection. Charkviani finds a suitable property, tracks down the owners and, if they are willing to sell, posts their contact details online along with a video of the property, the news agency report added, citing him as also saying: “After the
47​ GEORGIA Country Report ​October 2020 ​ ​www.intellinews.com